201400402 - Laserfiche WebLink

Browse

201400402 ASSIGNMENT OF LEASE AND RENTS Fee Form ASSIGNMENT OF LEASE AND RENTS (herein, together with all modifications, supplements and amendments hereto, called this "Assignment "), dated as of the Effective Date set forth on Schedule A attached hereto and made a part hereof (the "Effective Date ") made by the Borrower set forth on Schedule A attached hereto and made a part hereof ( "Assignor ") to WELLS FARGO BANK NORTHWEST, NATIONAL ASSOCIATION, as Trustee, having a principal place of business at 260 North Charles Lindbergh Drive, MAC: U1240 -026, Salt Lake City, Utah 84116 ( "Assignee "). WITNESSETH: WHEREAS, Assignor and the Lessee set forth on Schedule A attached hereto and made a part hereof ( "Lessee ") have heretofore entered into the Lease described on Schedule A attached hereto and made a part hereof (herein, as it may from time to time be modified, supplemented or amended, called the "Lease ") covering Assignor's interest in the lot(s) or parcel(s) of land described in Exhibit A annexed hereto and made a part hereof, together with the easements, rights and appurtenances appertaining thereto (the "Land "), all buildings and other improvements now or hereafter located thereon (the "Improvements ") and the machinery and equipment which is owned by Assignor and attached to the Improvements (the "Equipment "), all as more particularly described in the Security Instrument (as hereinafter defined) (the Land, the Improvements and the Equipment (excluding "trade fixtures" as defined in the Lease) are hereinafter referred to collectively as the "Mortgaged Property "); WHEREAS, Assignor has received an absolute and unconditional guaranty of payment and performance of the Lease from CVS Caremark Corporation ( "Lease Guarantor ") and dated as of the date of the Lease (the "Lease Guaranty "); WHEREAS, simultaneously with the execution and delivery of this Assignment, Assignee is making a mortgage loan to Assignor (the "Loan") as evidenced by a certain Promissory Note dated as of the Effective Date by Assignor to Assignee (the "Note ") and secured by the Security Instrument (as defined in the Note) (the Note, the Security Instrument and any and all other documents evidencing, securing or pertaining to the Loan are collectively referred to as the "Loan Documents "); and WHEREAS, Assignor has agreed to execute and deliver this Assignment for the purpose of securing the following (collectively, the "Obligations "): (i) the payment of the principal of, interest on, premium (if any) and all other amounts payable in respect of the Note and the Security Instrument; and (ii) the performance of the covenants and agreements contained herein and in the Note and the Security Instrument. NOW, THEREFORE, in consideration of the foregoing, and other good and valuable consideration, the receipt of which is hereby acknowledged, the parties hereto agree as follows: 1. Assignor, as security for the Obligations, has assigned, transferred, conveyed and set over, and by these presents does hereby presently, unconditionally and irrevocably assign, transfer, convey and set over to Assignee, all of Assignor's estate, right, title and 18766395.1. BUSINESS